KATY MAGAZINE NEWS June 26, 2018
Katy families and businesses affected by Hurricane Harvey will have an opportunity to recover with the approval of the State Action Plan, totaling just over $5 billion dollars.
Texas Land Commissioner George P. Bush announced on Monday that the U.S. Housing and Urban Development (HUD) has approved the State Action Plan for a ttotal of $5.024 billions dollars as part of the Community Development Block Grant - Disaster Recovery.
Affected areas in Harris County and the City of Houston will receive $2.7 billion in recovery funds, while areas outside Harris County and Houston city limits will get the remainder of $2.3 to rebuild and restore homes and businesses, and infrastructure. Here is a breakdown in fund distribution and approved programs:
1. Single Family Homeowner Assistance ($1.048 billion) Provides funding for rehabilitation and reconstruction of owner-occupied single-family homes damaged by Hurricane Harvey.
2. Buyouts and Acquisitions ($275 million) Eligible homeowners may sell their home to a local government at a pre-storm or post-storm fair market value and move out of harm's way by relocating outside of a floodplain to a lower-risk area
Allows homeowners to be reimbursed for certain out-of-pocket expenses incurred for repairs to their home including reconstruction, rehabilitation or mitigation up to $50,000.
4. Affordable Rental ($250 million) Provides funding for rehabilitation, reconstruction and new construction of affordable multi-family housing projects in areas impacted by Hurricane Harvey.
5. Local Infrastructure ($413 million) Repairs, enhances and restores infrastructure for local communities impacted by Hurricane Harvey as part of a comprehensive long-term recovery program.
Offers interim assistance to small businesses impacted by Hurricane Harvey through deferred forgivable loans and loans in exchange for job creation or retention. Small business within Harris County and the city of Houston will be eligible to apply for this program.
7. Local, Regional and State Planning ($137 million) The GLO will conduct planning studies focused on disaster mitigation in the impacted areas with the purpose of promoting sound long-term recovery.